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  • BHP sinks cash into Nickel West to revive operations 2016-10-20
    The future of mining giant BHP Billiton’s Nickel West arm appears solid as the company focused on extending its current operating life from 2023 to 2032, and sinks cash into maintaining its asset integrity. BHP, which has unsuccessfully tried to sell its nickel businesses, has invested A$2-million a month for the last ten months into maintenance and repairs at Nickel West. The spending will continue for the remainder of 2016 and 2017, said Nickel West asset president Eduard Haegel on Thursday.
  • SolGold turns down BHP proposal as interest in junior grows 2016-10-10
    Mining giant BHP Billiton has offered to pay $30-million for a 10% interest in Aim-listed SolGold, but the Brisbane-based explorer has rejected the proposal and decided to stick with a $33-million financing deal with Maxit Capital and Newcrest Mining. In addition to a 10% shareholding in SolGold, BHP had also hoped to secure an earn-in into the Cascabel copper/gold project, in Ecuador, by spending $275-million to acquire a 70% stake of SolGold’s 85% interest in the Cascabel holding company Exploraciones Novomining SA.
  • Olympic Dam still on care and maintenance 2016-10-04
    Operations at the Olympic Dam copper, gold and uranium mine, in South Australia, remained on care and maintenance, mining giant BHP Billiton said. Operations were suspended and the site de-mobilised following a severe storm in South Australia, which resulted in state-wide power outages.
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  • ASX: Mineral Resources and Ore Reserves at 30 June 2016 2016-09-21

Nearby Location News

  • Barrick’s $1bn Super Pit stake said to draw Kinross, Zijin 2016-10-07
    Barrick Gold’s stake in the Kalgoorlie Super Pit mine has drawn interest from Kinross Gold and Zijin Mining Group in a sale that could fetch as much as $1-billion, people with knowledge of the matter said. Australian producers Newcrest Mining, Northern Star Resources and Evolution Mining are also reviewing data on the mine ahead of possible indicative bids, which are due by the end of October, according to the people.
  • MacPhersons starts trial mining at Boorara 2016-09-07
    Trial mining at the Boorara gold mine, in Western Australia, has started, with owner MacPhersons Resources announcing plans to develop a 20 m openpit Some 30 000 t of ore would be hauled to a nearby mill, and processing was expected to take between 10 and 12 days.
  • MacPhersons Resources Ltd kick-starts trial mining at Boorara Gold Project 2016-09-07

    MacPhersons Resources Ltd (ASX:MRP) has commenced trial open pit operations at the Boorara Gold Project in the Eastern Goldfields of Western Australia, as part of a feasibility study.

    The aim of the Boorara trial mining operation is to enable accurate resource, mining and milling reconciliations to be undertaken on the deposit.

    The Boorara open pit contains total resources of 3 -3.5 million tonnes grading 1.01 g/t gold, estimated to produce 86,000-91,000 ounces of gold over three years from a standalone heap leach.

    MacPhersons is currently planning to mine 30,000 tonnes by developing a trial pit to a depth of 20 metres and about 100 metres long at the Southern Stockwork deposit.

    The pit is expected to be completed by the end of September.

    The ore will be hauled 60 kilometres to the FMR Pty Ltd mill at Coolgardie. The processing of the ore will take about 10-12 days.

    MacPhersons is anticipating to produce 1700-1800 ounces of gold from the initial shipment of ore.


    Sale of Coolgardie gold assets for $10 million

    MacPhersons was in the news last week, when it announced an agreement for the sale of its Coolgardie gold assets to Primary Gold Ltd (ASX:PGO) for $10 million.

    The transaction will include $5 million in cash, to be paid over a 12-month period and $5 million comprised of 40 million Primary shares at an issue price of $0.125 per share.

    The sale is part of MacPhersons’ plan to focus on its core assets at the Boorara gold and Nimbus silver projects.

    The new funds will come in handy as the company is commencing a reverse circulation drill program shortly to test for mineralised extensions below Boorara.

     

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

  • Barrick presses on with asset sales in the face of gold’s rally 2016-07-28
    Barrick Gold plans to forge ahead with efforts to divest peripheral assets – starting with its stake in the Kalgoorlie Super Pit in Australia – even as surging gold prices spur the highest profit in three years. In its second-quarter earnings statement Wednesday, the world’s largest gold producer said it made $968-million in debt repayments this year, almost half its target, and will continue pursuing non-core asset sales. Earnings excluding one-time items matched analysts’ estimates, while net income was the highest since the first quarter of 2013.
  • Empire plans to process Penny’s Find gold at third-party Kalgoorlie mill 2016-06-07
    Gold junior Empire Resources has signed a memorandum of understanding (MoU) with Golden Mile Milling for the toll treatment of ore from its Penny’s Find gold deposit, in Western Australia. The ore would be processed at Golden Mile’s Lakewood mill, located on the southern outskirts of Kalgoorlie Boulder and about 63 km by road from Penny’s Find, Empire reported on Tuesday.

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